from wsj.com: J.M. Smucker Co. is adding Milk-Bone dog treats and Meow Mix cat food to its stable of human-food brands, with a $3.2 billion agreement to buy Big Heart Pet Brands that also marks a win for the smaller company’s private-equity owners. The deal gives Smucker, maker of Pillsbury baked goods and Folgers coffee as well as its namesake fruit spreads, a presence in the market for pet food and pet snacks. Sales of those products totaled $21 billion in the U.S. in 2013 and have been growing relatively quickly as Americans lavish ever-more money on their growing number of dogs and cats, as growth in the packaged-food has stagnated.
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